Call Recording

Call Recording as a core requirement for many of the regulations affecting financial service and insurance companies. Most vendors approach is to build out complex infrastructure with dedicated technology for each communication system. While this is a secure and robust approach, it lacks flexibility and is expensive. With more an more communications moving into the internet domain (aka cloud) organisation need to consider similar strategies where recording-as-a-service rather than recording technology is deployed.

With the MiFID 2 requirements plus the complexity being added due to GDPR, Red-e4 has only found one provider that covers fixed line, mobile, unified communications and bloomberg chat and has the longevity (compliance recording services since 2010), experience (160 customers globally) and capability (implementation in weeks). Below is a summary of the benefits of Touch Call Recording:

For IT

  • Over 30 communication modes supported including various forms of Telephony, Mobile (SIM and App) and Skype (Network and App)
  • Service based solution giving stakeholders direct access to recordings (no internal IT team for search and playbacks)
  • Cloud strategy with data held securely with encryption (AWS, Azure, secure hosted models and API for push to DataCentre)
  • Daily assurance reporting (reduced start of day checks)
  • Open API for integration into other best in class solutions (Voice analytics, Trade Surveillance and eDiscovery tools)

For Business Front Office

  • Touch records all devices against the users account so you know which traders and investment managers are being recorded
  • Controlled Access so users can access their own recordings (if authorised)
  • Whitelist (personal) to ensure family and friends are not recorded (compliance controlled) for GDPR – I don’t know of any other solution doing this
  • Nomadic users covered – This supports challenges withBrexit where users are potentially trading from multiple locations
  • Mobile App that does not affect user experience (I’ve been using it home and abroad without problems)
  • Mobile SIM solution in multiple countries including UK, USA, Norway, Sweden, Denmark, Singapore and Hong Kong with others available on request

For Compliance

  • All user devices recorded with secure compliance access to recorded calls
  • MiFID and GDRP requirements covered (rights of access to data)
  • Service assurance and reporting
  • Whitelist (global) with compliance approval to support GDPR right to be forgotten

For Business Commercial

  • Reduced cost through Service model – no high capital investment or professional services, reduced storage costs due to cloud approach (e.g use existing AWS contract)
  • Controlled cost - pay for what you use when you use it